Wal-Mart To Fire 7,000

Tyler Durden's picture

Setting the mood ahead of tomorrow's "critical" for the Fed's September rate hike decision payrolls report, moments ago, WSJ reported that Wal-Mart Stores plans to cut 7,000 back office positions around the country, a restructuring move that in addition to seeking to improve its efficiency, will drastically alter the layout of its workforce, which as recently as a year ago was delighted by WMT's minimum wage price hikes.

WSJ reports that the country’s largest private employer is eliminating about 7,000 U.S. store accounting and invoicing positions over the next several months, jobs mostly held by long-term employees, often some of the highest paid hourly workers in stores. The retailer wants those employees working with shoppers, not in backrooms, say company executives. Centralizing or automating much of those tasks is more efficient, they say.

The jobs are coveted as a rare desk job in retail. “You are not running around the store on your feet all day,” and receive decent pay, says a Wal-Mart store accounting employee who earns about $13 an hour, or $27,000 a year. “Everybody wants to get in there. The jobs never open up,” says this person, who has worked at the store for nine years.

In an ironic twist, WSJ notes that the back office cuts to Wal-Mart’s 4,600 U.S. stores is a sign that retail workers face big changes as their employers spend heavily to compete with Amazon.com Inc. and grab foot traffic from other chains. What is ironic is that at least according to the BLS' Arima X 13 seasonally adjusting and goalseeking model, retailers remain one the nation's most aggressively hiring sectors in recent years.

The positions Wal-Mart is eliminating manage an individual store’s daily cash flow or process claims from manufacturers delivering goods directly to stores, among other tasks. Starting early next year, much of that work will be handled by a central office or new money-counting “cash recycler” machines in stores. Wal-Mart tested the change in about 500 stores earlier this year.

And with that behind us, we now eagerly look forward to tomorrow's strong jobs report beat.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
GUS100CORRINA's picture

More good news????

Mr. President and Ms. Yellen .... YOUR FIFTEEN MINUTES ARE UP!!!!!

YOU ARE FIRED!!!!!!!!!!!!!!!!!!!

 

Looney's picture

 

Elon Musk should hire all 7,000 and make them all Vice Presidents at Tesla.   ;-)

Looney

Haus-Targaryen's picture

I hope they were all for the Fight for $15 supporters. 

LowerSlowerDelaware_LSD's picture
LowerSlowerDelaware_LSD (not verified) Here2Go Sep 1, 2016 11:51 AM

But higher pay for everyone else as well a the new robots.  Woo, hoo!!!!

Good thing that WalMart increased costs with higher wages.  Who could have possibly seen this coming?...

Antifaschistische's picture

I may have to alter my life strategy.  Plan G (after A, B, C, D, E & F) was to accept the notion that "well, you can always be a greeter at Wal Mart".  Now, it's looking like Plan G may get scratched completely.

BigDawgz's picture

LMAO.  When I was living on the East Coast & was not debt free my Plan G was "Welcome to Sheetz...pump 5 is on for the green Chevy.  Please pay inside when you're done."

bamawatson's picture

"eliminating back office positions"
? including doggy-style? ( a favorite back office position)

JuliaS's picture

I think he meant to say, Mr. Yellen and Ms. President.

VinceFostersGhost's picture

 

 

Wal-Mart To Fire 7,000

 

YES WE CAN!!!

 

SPIKE THAT DAMN FOOTBALL!!!

Son of Loki's picture

Barry has 7,000 shovel ready jobs for them....................

 

... too bad they're all in Bangladesh!

TeamDepends's picture

"Welcome to Wal-mart, I love you." "Um Jerry, you don't work here anymore."

FireBrander's picture

How many of the 7000 will be from the Corporate Crew making $16,826.92 a day?

Yes, yes, Squash those $15hr folks and funnel those BILLIONS in SNAP dollars that pour into Walmart EVERY MONTH into the pockets of the few at the top of Walmart.

Haus-Targaryen's picture

Yes, much like I have zero sympathy for the idiots in Venezuela who voted for socialism, or the morons in Greece who keep supporting the EU and EUR. 

No sympathy.  They did it to themselves. 

Not My Real Name's picture

I'm sure this would have never happened if the minimum hourly wage was raised from $15 to $25.

King Tut's picture
King Tut (not verified) Looney Sep 1, 2016 11:42 AM

or rocket engineers

FireBrander's picture

Firing 7000, excellent move! Because if there's on "truth" I know is that there are too many employees in the store...way to much cleaning, stocking and helping people find things.

thecondor's picture

Ya, especially the cleaning part. 

rejected's picture

And they can just put the stuff in boxes on the floor, that'll save a lot of money. And do like Office Depot here,,, rip up all that nice carpet and polish the underlying concrete! More mullah saved. And here's the best,,, don't carry a decent inventory. Tell everyone to buy online, free shipping!  Yep, That'll surely bounce your bottom line. Sure is a good thing educated Americans in the 21st century really know how to run a business......... into bankruptcy! LOL.

Seasmoke's picture

Welcome to Un-Employment. 

sodbuster's picture

The unemployment rate will go down, now, right?

crazybob369's picture

Yes. Because according to the Bureau of Lies and Statistics' birth/death model, those 7,000 new unemployed will be absorbed by the 700 new businesses that were created this month. Granted those are fictional businesses, but..... 

B1G mNy's picture

Hey watch it! Amway is a legit business!

DogeCoin's picture

Best economy in our lifetime. All those 7000 should be happy they have our strong robust recovery to look forward to. They can all get jobs in the restaurant industry.

JRobby's picture

No surprise. Retail collapse ongoing. Dollar General & Dollar Tree down which is the end of the retail line, just below Wally.

CheapBastard's picture

I'm going to miss that 76 year old geezer ... ooops, I mean greeter at the door. He is the only one who says. "Hello" with a smile anymore.

King Tut's picture
King Tut (not verified) Sep 1, 2016 11:39 AM

The only reason I used to stop at Walmart was cheap AK and AR ammo but they don't even carry that any more so...

CheapBastard's picture

... and they took all those Confederate Flags off the shelves and replace dthem with Al Sharp[ton and Eric Holder action figures, right next to the GI Joe's etc.

 

What's nice about these new ones is the toy company throws in a free action auto---a purple escalade with Al or Eric.

King Tut's picture
King Tut (not verified) Sep 1, 2016 11:41 AM

.

GunnerySgtHartman's picture

I keep saying, there's not going to be a ratehike ...

Lost My Shorts's picture

I was at Walmart a couple of days ago, and was surprised at the number of items out of stock. I guess their famous just-in-time logistics are getting rusty. Those 7,000 must not have been doing their jobs.

SHEEPFUKKER's picture

I'm sure the Hanjin BK will help stock the shelves. 

Bay of Pigs's picture

I didn't see that Hanjin story anywhere but here at ZH.

InflammatoryResponse's picture

did you notice how the aisles are wider?

 

and they don't have the pallets of stuff displayed across the back aisle like they used to.  I wonder how many thousand SKU's they've stopped carrying?

 

 

thecondor's picture

Why do I hate Walmart so much?

hedgeless_horseman's picture

 

Maybe you prefer to spend your capital locally, where it has a chance to come back to you, instead of sending your money to the Walton family, Wall Street, and China?

thecondor's picture

That's right HH.  I have a small business I run myself.  I am in a great community.  The people here look local first and I appreciate that, so I shop local too.  I have a PC repair business and I also fix iphones.  I have my iphone screens refurbed here locally for the most part.  I don't sell them to a asshole that in turn, sells them back to China.  So the screen that I put on a phone today, came off of another phone here locally.  Better quality control.  I get to shake the hand of the guy who does the refurbs.  Less people in the way.  I get a top quality iphone screen, refurbed, and 99% of the time, the OEM LCD back with new glass instead a a Chinese, low quality copy LCD for a better price than even the cheap copy off of ebay.  

Anopheles's picture

Ironic that ALL the phones and parts you use (even OEM parts) are MADE IN CHINA  (OK, more precisely, China, Korea, Taiwan, Singapore, etc) 

Yet you talk about "buying local"???

thecondor's picture

I can't control where the part is made initially, but I can control who refurbs my screen and where I buy replacements from.  And when there is a guy here locally refurbing screens, that are not getting sent back to china for refurb, ya that sounds about a local as you can get considering the circumstance.  The amount of money I pay to has the screens rebuilt and subsequently resold, there is probably more money going into Americans pockets than Chinese pockets considering the amount of money they get paid over there.  So ya, local, and I spend the money I make back into the community I have my business in at local shops. So again, ya local.  Can you comprehend that? 

Son of Captain Nemo's picture

A big round of applause to the board of directors at Wal-Mart and psychopath(s) like Christine Legarde that make it all possible!

vegas's picture

$27 K is a coveted job? What kind of fucking moron thinks this way? Don't get me wrong; shit, if it's the only thing there is, and you got to have a job, then I'm all for it, but don't tell me this is some kind of dream position. Christ, this is a "Pudding Business" position.

 

www.traderzoogold.blogspot.com

Soul Glow's picture

Pretty hard to get a job right now.  The education system fucked almost everyone up and the average IQ is pretty low.  $27k probably sounds good to half of americans.

rejected's picture

Yea Soul, and is why they use the term Household Income which is about $52,000.

Divide that by 2 ($26,000) and you find that the individual $27,000 dollar income isn't so bad after all.

Of course as per the ZH article the other day, if you are on the government dole than your income actually decreases with a higher income.